Weathering the storm: Falling demand from non-residential building construction is reducing revenue
The Air Conditioning and Heating Services industry derives most of its revenue from installation and maintenance work in the non-residential property market. Prior to the COVID-19 outbreak, contractors enjoyed accelerated growth in installation work on new non-residential buildings. However, investment in the commercial and industrial building market is slumping since 2019-20. Travel restrictions to curb the pandemic and the rise in New Zealanders opting to work and shop from home are reducing installation work on complex climate control and refrigeration systems for office, hotel and retail developments.
Industry contractors and firms specialise in installing household, industrial and commercial heating, refrigeration and air conditioning equipment. Industry operators also install air conditioning duct work.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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